Looking at several pairs I got the feeling the market was not being truly efficient so probably its just me not quite understanding what is going on.
As I look to the quotes I see:
USD/JPY: 109.25
EUR/USD: 1.5
EUR/JPY: 161.25
Now, doesn't this look awkward?
Looking at this, what I want to do is buy 1000 EUR with 161250 JPY. Then convert them to 1500 USD and then turn it back to 163875 JPY. This is free money (2.5k JPY but we can do this with millions) how can it happen and how can I actually do it?
As I look to the quotes I see:
USD/JPY: 109.25
EUR/USD: 1.5
EUR/JPY: 161.25
Now, doesn't this look awkward?
Looking at this, what I want to do is buy 1000 EUR with 161250 JPY. Then convert them to 1500 USD and then turn it back to 163875 JPY. This is free money (2.5k JPY but we can do this with millions) how can it happen and how can I actually do it?